*Was overzealous corporate art collecting partly to blame for Lehmann Bros. fall? Former Lehman trader Lawrence McDonald speculates that indeed, it was, in his new book about the investment behemoth. Artnet fleshes out the issue in its latest report.

*Bill Viola rejects Vatican’s invitation to a summit “aimed at bridging the gap that has developed between spirituality and artistic expression over the last century or so,” reportedly because Viola disagrees with many of the Catholic Church’s policies. No word yet on whether artist Robert Gober was invited, and if so, whether or not he’ll attend.

*If you haven’t already been following this issue, this L.A. Times article provides an excellent one-stop summary of the current controversy arising from the Obama administration’s alleged attempts to “politically manipulate” the NEA and, by extension, the arts communities it serves.